Prediction trading is coming to Canada

Prediction trading is exploding in popularity, with the industry set to rake in about US$2 billion in revenue this year alone. Companies like Kalshi and Polymarket have popularized the practice, which lets you bet on nearly anything – from Taylor Swift’s marriage status to election outcomes. This past week, Canadian company Wealthsimple cleared hurdles to offer Canadians something similar, but the rules will be different here and a fragmented system makes regulation tricky.

The Globe’s retirement and financial planning reporter Meera Raman broke the Wealthsimple news. She joins us to explain what the market may look like in Canada and the challenges regulators face in protecting investors.

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